Applus said the move would allow it to consolidate its position in China by adding the business to its IDIADA automotive design and testing division.
Buyout giant Carlyle bought Applus in 2007 as part of a deal which valued the company at €1.48bn.
Investindustrial picked up a five per cent stake for €20m five months later, leaving Carlyle owning about 76 per cent and the remainder held by banks.
Carlyle European managing director Pedro de Esteban said at the time that its goal was to consolidate Applus as a platform for sectoral and global growth, keeping the headquarters in Barcelona and relying on the current management team.
Applus is the only minority investment in Investindustrial’s portfolio.
Copyright © 2013 AltAssets